Guideline Value for Muthusamy Nagar

Muthusamy Nagar guideline value

The current guideline value of Muthusamy Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in the village of Mangadu -A under the Kunrathur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Muthusamy Nagar has changed

The guideline value for Muthusamy Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,273 per sq.ft, which increased to Rs 1,900 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 2,090 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

Mangadu -A consists of 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 1,870 per sq.ft, and Muthusamy Nagar's 2024 figure is above this median.

• Muthusamy Avenue Annexe: Rs 2,200 per sq.ft (2024)
• Murugan Nagar: Rs 2,090 per sq.ft (2024)
• Murugan Ambal Nagar: Rs 1,980 per sq.ft (2024)
• Narivanam Salai: Rs 2,090 per sq.ft (2024)
• Mohammed Ali Nagar: Rs 1,760 per sq.ft (2024)
• Mettu Street Ist Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Muthusamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, making the total cost Rs 1,88,100. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Muthusamy Nagar?

The Sub Registrar Office that covers Muthusamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role when buying or selling property in Mangadu -A, as it is used to calculate the stamp duty and registration fees. This value is determined by the government and reflects the minimum price at which a property can be registered.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Muthusamy Nagar?

The current guideline value of Muthusamy Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,273 per sq.ft to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 64%.

What is the median guideline value in Mangadu -A?

The median guideline value in Mangadu -A is Rs 1,870 per sq.ft, and Muthusamy Nagar's current value is above this median.

Where can I find the Sub Registrar Office for Muthusamy Nagar?

The Sub Registrar Office for Muthusamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated in Muthusamy Nagar?

Stamp duty in Muthusamy Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.